World gold price plummets, domestic gold price hits all-time high

Today, September 4, the world gold price evaporated 32.4 USD/ounce after setting an all-time record, but the domestic gold price continued to set a new record.

Domestic gold price highest of all time: 133.9 million VND/tael

SJC gold bar price increased by half a million dong per tael

Today, the world gold price increased to nearly 3,580 USD/ounce - an all-time record, but then decreased to 3,527.7 USD/ounce at 10:00 this morning.

At the current price, the converted world gold price is equivalent to 112.75 million VND/tael.

The price of SJC gold bars today increased by half a million VND/tael, to 133.9 million VND/tael. This is also the highest price ever. The buying price is at 132.4 million VND/tael.

The difference between buying and selling prices remains at 1.5 million VND/tael.

The selling price of 9999 gold rings at SJC Company is 128.7 million VND/tael, the buying price is 126.2 million VND/tael, an increase of 700,000 VND/tael compared to yesterday. The difference between buying and selling prices is up to 2.5 million VND/tael.

In recent days, the price of gold rings has increased faster than the price of gold bars due to the high demand for gold rings from people.

SJC gold bar price is 21.15 million VND/tael higher than world gold price

World gold price plummeted this morning - Screenshot

World gold prices have continuously set records in recent sessions thanks to the weakening USD and the possibility that the US Federal Reserve (FED) will cut interest rates at its meeting this month.

Investors are now betting on an 87% chance of a 25 basis point rate cut at the Fed's September meeting, according to the CME Group's FedWatch Tool. Investors are also betting on further rate cuts. The Fed is concerned that tariffs could spur inflation.

The US inflation report for August is expected to be released on September 11, a week before the Fed's policy meeting, which could help the market predict the direction of interest rates.

In addition, the gold market is entering the big consumer season of the year. Combined with expectations that the Fed will cut interest rates at its September meeting, the possibility of gold prices continuing to set new records.

Compared to the converted world gold price, the price of SJC gold bars is 21.15 million VND/tael higher while the price of gold rings is 15.95 million VND/tael higher. This is a very high difference and a risk for gold buyers at this time.

Recently, the Government issued Decree No. 232 amending and supplementing a number of articles of Decree No. 24 on the management of gold trading activities, including eliminating the State's monopoly on the production of gold bars, the export of raw gold and the import of raw gold.

However, the regulation to abolish the monopoly on gold bars will not take effect until October 10.

At the same time, the market is waiting for the circular guiding implementation so that banks and gold businesses are eligible to be granted import quotas and start producing gold.

It is forecasted that domestic gold prices will not cool down until November due to increased supply. Therefore, domestic gold prices have not been able to cool down yet.

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Source: https://tuoitre.vn/gia-vang-the-gioi-lao-doc-gia-vang-trong-nuoc-cao-nhat-moi-thoi-dai-20250904101454699.htm